Pharos Energy plc announces an Increase in Equity Buyback.

Pharos Energy PLC is an independent oil and gas company. The Company’s production, development and exploration assets in Egypt and Vietnam. It operates two concessions across Egypt, including El Fayum and North Beni Suef. The El Fayum concession is located in the Western Desert, about 80 kilometers (km) southwest of Cairo and close to local energy infrastructure. The North Beni Suef is located south of the El Fayum concession in the Western Desert. The Company has assets in Vietnam with production at two fields, including Te Giac Trang (TGT) and Ca Ngu Vang (CVN) and the potential for growth from two additional exploration blocks (125 & 126). The TGT Field is located in Block 16-1, offshore Vietnam in the shallow water Cuu Long Basin, approximately 100 km from Vung Tau. The CNV Field is located in Block 9-2, offshore Vietnam, in the shallow water Cuu Long Basin. Blocks 125 & 126 is located in moderate to deep waters in the Phu Khanh Basin, northeast of the Cuu Long Basin.